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U.S. Markets Open, S&P 500 Poised To Hit Record High; House Receives Classified Briefing On U.S. Strikes On Iran; Bezos Wedding Celebration Underway With Celebrities, Protests. Aired 9:30-10a ET

Aired June 27, 2025 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[09:32:38]

KATE BOLDUAN, CNN ANCHOR: That was moments ago. The opening bell ringing on Wall Street, excuse me, it makes me so emotional. The S&P 500 is on the road to a major recovery after being on the verge of plunging into bear market territory just a few months ago. CNN's Matt Egan back with us. If -- if the opening bell can make anyone emotional, it would be you.

MATT EGAN, CNN REPORTER: Well, look, Kate, we're on the verge of a major market milestone. Both the S&P 500 and the NASDAQ are on track for all-time highs. This would be the first record high for the S&P since February.

BOLDUAN: It's been wild considering the drops that you were on just talking about just, what, last month, I think.

EGAN: Yes. It -- it -- it's been an absolutely unbelievable ride. I've never covered anything quite like this. Look at this chart.

BOLDUAN: Yeah.

EGAN: This is the S&P just since this year started. And look at that epic sell off back in March and April. That's because investors were freaking out about the president's Liberation Day tariffs. This market meltdown was so bad that some people on Wall Street were calling it Obliteration Day, right, traders, economists, investors, Fed officials. Everyone was worried that those sky high tariffs were going to cause a recession. But then what happened? What caused the market to start to go straight up? April 9th, the President walks back those tariffs and the market's really been on fire ever since then.

Look at this. The S&P 500 --

BOLDUAN: Wow.

EGAN: -- just since that low in April has gained almost $10 trillion in market value. It's a stunning increase after a stunning decrease. And this is very good news because this is going to help restore some confidence, right, among consumers, which is really important because consumer spending is the biggest driver of this economy.

BOLDUAN: OK.

EGAN: We did learn that consumer spending fell in May. This is also going to help restore confidence among investors, among CEOs, small business owners. It's also going to help when people are looking at their 401(k)s or their investment portfolios, right? They're going to like what they see. Maybe they go out and buy that car. They go out to dinner. They take that vacation.

What's notable, though, is that a lot of this does feel as though it didn't have to happen, right? I talked to market veteran, Art Hogan, and he said, look, these selloffs should never have happened. But chaos seems to be one of the central themes of this administration. He said there was no need for that. It was a completely manufactured crisis.

And what's key, though, Kate, is that Hogan also told me he said investors, they get the joke now. They get that they're going to hear something on Truth Social. They're going to hear something --

[09:35:02]

BOLDUAN: It kind of does seem like that in the last month.

EGAN: Yes.

BOLDUAN: Like thing -- things have popped up and they kind of like don't believe it.

EGAN: Right.

BOLDUAN: That's like --

EGAN: Now there's a sense that, OK, maybe something's going to get announced. Maybe it's even going to take effect. But before long, the President's probably going to walk it back if it doesn't sit well with the market. And so that's why we do see U.S. stocks firmly on track for their first record high since February.

BOLDUAN: All right. Let's see how long it lasts.

EGAN: Yes.

BOLDUAN: Great to see you Matt, thank you.

EGAN: Thanks Kate. Sara?

SARA SIDNER, CNN ANCHOR: All right. Happening right now, the House finally receiving a briefing on the U.S. strikes on Iran after it was delayed earlier this week. It comes after senators got their own briefing yesterday and emerged divided over just how much damage those strikes really caused to Iran's nuclear program, largely along party lines.

Then we have exclusive CNN reporting now revealing the secret U.S. diplomatic effort to get Iran back to the negotiating table before and after those strikes. Joining me now is Ian Bremmer, the president and founder of the Eurasia Group and GZERO Media. So you wrote in your G7 -- GZERO site that Trump got his foreign policy win.

Now comes the hard part. But doesn't Iran have every incentive to negotiate now? Aren't they on the back foot, if you will?

IAN BREMMER, PRESIDENT & FOUNDER, EURASIA GROUP AND GZERO MEDIA: Oh, sure. They're on the back foot, but let's keep in mind, you know, their -- their lead nuclear negotiator was assassinated, as well as 30 of their top military leaders. The supreme leader has been in a bunker and most of the nuclear program has been blown up.

So it's going to take them more than a couple of days to adjust to that mentally, emotionally. I -- I don't think they have the command and control capable to immediately restart negotiations in -- with the United States in -- in a capable way, even if that was their full intention. And there are, you know, there are still hardliners in Iran that are going to be arguing, hey, this is a time where we should be kicking out the IAEA and the inspectors.

We should be trying to restart the nuclear program precisely because absent that, look at what they were able to do to us, the Israelis and the Americans. So I -- I do think that there is a heavy incentive to restart negotiations. I think there will eventually be some success on that front. But we -- we can't expect that it's going to be an announcement the next couple of days.

SIDNER: Is there any surprise to you that this preliminary intelligence and -- and that should be stated over and over and over again, it is not the final look at what exactly happened when the U.S. used those bunker buster bombs on Iran's nuclear facilities. But should anyone or are you in any way surprised this has turned into a political fight with Democrats on one side, mostly saying, you know, the damage is -- is -- is not as -- as severe as Trump is saying. And on the other side, Republicans saying from the intelligence we saw, it was a complete success.

BREMMER: Well, of course, I'm not surprised by that. It's sad. It's annoying. But it is reality. I -- I was surprised that after the attacks, the number of registered Democrats that said that they favored the strikes was the same number. In fact, it was even a little lower than before, despite the fact that there was clear success and there was no response from Iran. It was an utter capitulation. So you would have thought that it would have been a little bit more popular.

And the answer is no. And it's a real problem that so much of the geopolitical information, the political information that Americans receive has to first be processed through a partisan and tribal lens. The -- the -- the fact is that this was a successful strike and that the Iranian program has been set back, has been set back by the Israelis and has been set back by the Americans.

That we -- we know that the uranium processing, which is required, the conversion to make that highly enriched uranium suitable for a nuclear weapon, that has been very seriously damaged. That's not under Fordow. That's in another facility that the Israelis hit. That took them originally seven years to put together. Now, they've done it before. So it won't take as long this time around. But there are a lot of points like that, like any objective observers of this -- of these strikes, recognizes that we -- there's a lot of information we don't know. But at a minimum, the setback to the Iranian program is very significant. It's not a matter of a few months. It's probably a matter of a few years. And that -- that is a big deal. It still doesn't resolve the prog or problem.

There are still plenty of Iranians in leadership that believe that absent a nuclear program, they're going to get hit just like Qaddafi was hit, just like Hussein was hit and like Kim Jong-un wasn't hit. So there is a great incentive for nuclear proliferation in the world today.

SIDNER: Ian Bremmer, thank you so much for your -- your expertise on this and sort of looking at this in a robust way. Appreciate it.

[09:40:10]

All right. It is the place to be this weekend, the multi-million dollar wedding of Jeff Bezos and Lauren Sanchez in Venice. But as those rich and famous guests prepare for all the partying, protesters slamming what they call the exploitation of their floating city.

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[09:45:07]

BOLDUAN: A lot of eyes on Venice, Italy right now. Wedding events in full swing for the huge celebration Amazon -- for Amazon founder, Jeff Bezos and Lauren Sanchez that they've planned and tried to keep under wraps. Many celebrities have already been seen attending, showing up like Kim Kardashian, Leonardo DiCaprio, Tom Brady, Oprah. I see Oprah right there. Look at all of them. Looking fabulous. All taking part, but not everyone in Venice is happy about this. Some locals are embracing the massive affair, but others are fighting against it, criticizing what they see as a billionaire takeover of their historic city.

CNN's Melissa Bell is in Venice for us. Melissa, what are you hearing from people since you've got -- since you've been there?

MELISSA BELL, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well, look, people in Venice are pretty divided about this. There are those who feel very strongly that this postcard that is Venice should not serve just as a backdrop for the weddings of the rich and famous, that there are many issues facing Venetians, the cost of living, climate change, the fact that this city is facing all kinds of difficulties faced precisely to the kind of Disneyfication, as they call it, that is the result of these sorts of events and the further mass tourism that it's likely to bring.

Then you have the others, and I include in that camp many of Venice's officials and in fact Italy's culture minister who's just been speaking out about what she believes this event is going to bring to Venice over the course of next year. And she estimates the benefits of just this event to the wider tourism industry here in Venice at over a billion dollars. So you have those who are hugely in favor of the glitterati descending on Venice for this wedding and those who feel very strongly that it is also an opportunity for them to make their voices heard about the many issues facing the cities, which is why you're likely to see more protests over the course of the day and into tomorrow.

What we have learned is that the happy couple will be exchanging vows over just across the water there in San Giorgio later this afternoon. We understand they'll be accompanied by the singing of Matteo Bocelli. We've also learned a little bit more, Kate, about the star-studded cast that's expected for tomorrow's events, a giant party we understand that had to be shifted slightly from its original location up in the north of Venice in this medieval church to the Arsenale, less glamorous but more easily secured and kept protected from the protesters.

What we understand from our affiliates here in Venice is that Lady Gaga will be performing again to that pretty impressive cast of A-list celebrities that have descended here in Venice for the wedding of Jeff Bezos to Lauren Sanchez. Kate?

BOLDUAN: That is a lot. It's great to see you, Melissa. Thank you so much. It's really beautiful right behind her, cannot deny that. No disputing or fighting about that.

[09:47:52]

Coming up for us, counting down a list of America's best cities to visit the top 10 when we come back.

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BOLDUAN: For a second year, CNN has asked viewers to weigh in on their favorite cities in America. Hundreds of you responded, and the CNN travel team narrowed it down to the top 10. This week, CNN's Laura Coates visits one of them, the City of Presidents, Rapid City, South Dakota, a place not only with beautiful landscapes, but also rich with history and heritage.

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LAURIE SUTTERER, VISIT RAPID CITY: This is James Madison. He was the shortest president, coming in at, I believe, 5'4".

LAURA COATES, CNN ANCHOR AND CHIEF LEGAL ANALYST: He just beat me, he just beat me.

COATES (voice-over): Welcome to Rapid City, South Dakota, nicknamed the City of Presidents. It's not only the gateway to this familiar landmark, but history fans can find life-size presidents all over town.

SUTTERER: All of our presidents are worthy. All of our presidents should be remembered. And all of our presidents are represented here in Rapid City. COATES (voice-over): Rapid City is also a hub for outdoor adventure. Just down the road is Custer State Park, where you can see hundreds of wild bison.

RANDY ANDERSON, BUFFALO SAFARI JEEP TOURS: You're seeing lots of mama cows, and the little cinnamon cubs, the small ones, are the brand-new babies that were born this spring.

COATES: They're not dangerous?

ANDERSON: They are dangerous.

COATES: OK, well, then that's my next question. They're very close.

ANDERSON: They are very dangerous.

COATES: You have to respect and appreciate nature from a bit of a distance.

ANDERSON: Even though they're docile acting animals, they're as wild as they can be.

COATES (voice-over): Bison aren't just part of the scenery. They're part of the culture and the menu.

COATES: Is this the famous bison ramen?

JUSTIN WARNER, BOKUJO RAMEN: It is.

COATES: This is wonderful. It's so tender.

WARNER: Thank you. We tried to crack the code, as it were. The arugula is, like, as close to, like, what a bison would eat. It tastes pastoral.

COATES: I've never had ramen this good, and I eat a lot of ramen.

COATES (voice-over): You can't visit Rapid City without seeing the four biggest presidents of all. And there's a treat you'll want to try.

COATES: He was the principal author of Declaration of Independence and also the first ice cream recipe in America. Who knew Rapid City? Who knew? All right, can I try a scoop of the Thomas Jefferson vanilla, please? Here it is. It even has a nice Thomas Jefferson hair. It's good. Creamy and rich. I don't think he meant to charge $6 for it, though.

[09:55:01]

Oh, wow, look at that. To see it in person and be here in person and to really appreciate what it would take to actually create this. And it really does remind you all the times that so many people think about politics and history coming out of the nation's capital in the Beltway. No, it's here in South Dakota.

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COATES: You guys, I had the best time in South Dakota. I'm from Minnesota. It had never gone before now. And now I regret it because it was so much fun. I wish you could have come with me, but now you got to feel and experience it along with me for America's Best Towns. I hope next time you're with me. Back to you guys.

BOLDUAN: That would be a girl's trip I would totally sign up for.

SIDNER: I want to go to the reptile gardens, which I don't know --

BOLDUAN: OK.

SIDNER: -- if -- if Laura would be down for that, but.

BOLDUAN: Well, she -- she wanted to cozy up to a bison, so.

SIDNER: That's true. That's true. So maybe -- maybe that would be really good.

BOLDUAN: More to come with Laura Coates.

SIDNER: All right, thank you so much for joining us. This is CNN News Central. Sit Room, up next.

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